Ascent to Pipe Gas to Croatia 'Shortly'

AIM-listed Ascent Resources has missed its target, outlined in April, of piping gas from its Petisovci field inside Slovenia to just over the border in Croatia by the end of June.

CEO Colin Hutchinson said July 18 though that the company has made “significant progress over the last three weeks” in getting the infrastructure ready to export gas from its Petisovci field inside Slovenia to just over the border in Croatia, and expects to start supplying gas to INA there “shortly.” It has been priced off the Central European Gas Hub, a virtual trading point around Baumgarten.

The line from its process plant to the export line is tested and ready for use, said Ascent. A flowline from its producer well Pg-11A to the process plant is installed, tested and is ready to connect to the well once downhole operations have completed, while work to bring Pg-11A into production is expected to last about two weeks, it added.

INA is due to complete recertification of its pipeline on the Croatian side of the border in time to receive Petišovci gas, said Ascent, adding that it had been advised to expect this by end-July 2017. “Once the [Pg-11A] workover is complete, we will immediately connect the well to the infrastructure, enabling gas to be produced for sale,” Ascent said July 18.

Independent auditors have estimated P50 gas in place at Petisovci at 13bn m³.

INA is jointly controlled by the Croatian state 44.84% with and Hungary’s Mol with 49.08%.

Mark Smedley